After passage of the SECURE Act of 2019, non-spouse IRA beneficiaries are now required to liquidate their inherited IRAs by the end of the 10th year. Often, that means they’ll be withdrawing taxable income from the inherited IRAs during their peak earning years – great gift for Uncle Sam, but not so good for the kids.
How about an asset class that doesn’t have the risks of stocks or bonds? One that can provide stability and peace of mind.
For some people, planning for retirement can feel like trying to eat an elephant; but, it doesn’t have to be that way. Before making big decisions, it’s always important to get the ducks lined-up first.
Managing inherited money isn’t as simple as depositing the check and picking some sure-fire investments.
Retirement decisions can be momentous. Which year you would have remembered would depend on if you retired back then… and which year!
Tax Planning doesn’t stop at retirement. In fact, tax planning is important for optimizing retirement income – and it changes during all four stages of retirement.
Good question. Whether or not you should roll-over your retirement funds to an IRA….. it depends (#1 in the consultant’s handbook of responses).
Expecting a big capital gains or other tax event this year? It might mean an unexpected tax surprise that can affect your Medicare premiums two years from now!
Tax traps are waiting. Did you it’s possible to be smack in the middle of the 22% tax bracket, yet taking an additional $1,000 in income could make that additional money taxable at 40%? It can happen to some taxpayers. In fact, there are other pitfalls many aren’t aware of, as well.
Remember 1966? What if you retired then? Would it have made a difference if you retired in 1967 instead? Can you time retirement? If not, how do you reduce your risk when there’s no time to rebuild all over again?
